USD/JPY 101.60 and 102.85 are Tradable Levels



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eliottWaves_usd-jpy_1_body_Picture_6.png, USD/JPY 101.60 and 102.85 are Tradable Levels

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-Bigger picture traders should be looking to participate in the long term bull move and today’s move opens up the possibility for a larger advance. The decline from the top can be characterized as a wedge. Support is at 101.63 and 101.26.

-Failure to hold last week’s low opens up previously mentioned levels. “The September high at 100.60 is of interest as a level that could produce a low. Trendline support is not until about 99.30 this week.”

LEVELS: 101.02 101.26 101.63 | 102.50 102.85 103.44

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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